The Austrian Financial Market Authority (FMA) hereby announces that the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) has upheld the FMA’s penal order against a person responsible of Lansdowne Partners Austria GmbH for a breach of the rules of the Alternative Investment Fund Managers Act (AIFMG) and Delegated Regulation (EU) No 231/2013 in relation to organisational requirements and has imposed a fine of EUR 2,380. The orderly final right of appeal was declared not to be permissible. The penal order is final.
Update 22.03.2023:
The Supreme Administrative Court (VwGH; Verwaltungsgerichtshof) has initiated preliminary proceedings in relation to the extraordinary final right of appeal.
At the request of Lansdowne Partners Austria GmbH and a responsible person of Lansdowne Partners Austria GmbH a procedure has been initated to review the legality of the aforementioned publication.
Update 06.11.2023:
The Austrian Financial Market Authority (FMA) determined by way of administrative decisions dated 26.09.2023, that the FMA’s announcement of 01.02.2023 pursuant to Article 60 para. 6 of the Alternative Investment Fund Managers Act (AIFMG) on the FMA website was lawful. Lansdowne Partners Austria GmbH and a responsible person from Lansdowne Partners Austria GmbH lodged an appeal at the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) against these administrative decisions.
Update 06.11.2023:
The Supreme Administrative Court (VwGH; Verwaltungsgerichtshof) rejected the aforementioned final right of appeal due to there not being any legal issue of fundamental importance.
Update 16.02.2024:
In a ruling dated 06.02.2024 the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) determined that the FMA’s announcement dated 01.02.2023 and its subsequent updates published on the FMA’s website pursuant to Article 60 para. 6 of the Alternative Investment Fund Managers Act (AIFMG; Alternative Investmentfonds Manager-Gesetz) was legal. The orderly final right of appeal was declared not to be permissible. The administrative decision is legally final.